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This is Planet Money from NPR.
Okay, we are going to start today's show by jumping into the old Planet Money time machine.
Economic Destination 2009. A time when the government was spending
lots and lots of money and the national debt was shooting up.
Yeah.
Back then, the U.S.
Was trying to pull itself out of the recession that followed the financial crisis.
And one of the big strategies the government used was just to spend and spend and spend.
We bailed out some banks.
We lowered taxes.
There was all this money for infrastructure.
Early in the recession, I think a lot of people
were very supportive of the big steps the government took to increase government spending and reduce taxes.
That is Karen Dynan.
She teaches at Harvard now.
Earlier in her career, she worked at the Federal Reserve, did a stint as the chief economist at the Treasury Department.